Category Archives: Economics

Economics for other people

(credit: Lenny DiFranza CC BY/Flickr) Two core economics concepts are crucial to our decisions, and even more so if they affect others than just ourselves Late last Sunday, May 31st, my wife’s friend Linda got a surprise from the UK … Continue reading

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Is that a lot, or is that a little?

(credit: duncan c/Flickr CC BY) The answer to the question is often far from clear-cut, and we may be easily misled – by others and by ourselves Imagine you have ended up in a foreign country that you have never … Continue reading

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Prices without markets

(featured image credit: Corinne Brown/Flickr CC BY) Do prices reflect value – and if they don’t, should they? Cynics, Oscar Wilde said, know the price of everything, and the value of nothing. That’s as may be, but do you know … Continue reading

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Similar, but very different

(credit: 272447 /Pixabay) We sometimes treat similar risks very differently, and that affects how we make decisions Fear of flying is not likely to be something bothering many people any time soon. The latest IATA figures show that, after a … Continue reading

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Powerful thought

(featured image: Martin Cleary CC BY) Economics can help us understand our choices and behaviour even better if it looks inside our heads Isn’t language wonderful? Particularly when you’re learning a language different from your mother tongue and you come … Continue reading

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Like shifting sands

(featured image credit: Weekend wayfarers CC BY) Our preferences are neither fixed, nor absolute – and that is a good thing, in times of crisis Some people prefer fried tomatoes to steamed broccoli, while for others it is the opposite. … Continue reading

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Behaviour and money

(featured image: jcomp) Despite all the behavioural economics talk, conventional incentives remain a major influence (albeit not necessarily as intended!) on our behaviour – and vice versa The state of New York is the latest territory where new measures to … Continue reading

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